Hi sr1068 and welcome to the forum.

Well done on taking one of the hardest steps and asking for advice and assistance. You will receive plenty of that along with support on the forum.

Past spending history along with how old a debt is can be a factor in a lender deciding if they will be prepared to accept a Trust Deed or not. That being said your situation is actually a lot more common than you think. People regularly balance transfer debts, take our consolidation loans to pay off other debts etc.

Can you tell us a little more about your situation i.e. do you own any assets such as a house or car and also if you didn't have to pay all of your debts and only your living costs how much per month could you afford to pay to a plan.

Also with a Trust Deed there are other options such as a Debt Arrangement Scheme or even Sequestration.

The post important thing is to do a little research and speak with a qualified debt expert about your circumstances. They will explore all of your options, explain the pros and cons and then confirm all of it in writing. They should also work through a very thorough income and expenditure to see what you can afford to pay per month. I'd be happy to assist you with this and I'm sure Kevin the other Expert would also.

Please remember that you will have a solution available to help you deal with your debts so try to stay positive.

Hi David,

Many thanks for your reply ... Particularly on a Sunday.

I have no assets - I privately rent my home and my car is leased via work.

Hopefully I'll hear from someone soon to talk things through in detail.

Thanks again.

Hi sr1068,

Your welcome.

It does sound like you have a number of possibilities available which is good.

Good luck and let us know how you get on.

If you do decide a trust deed is your option I would highly recommend David at Wyler and bisset. He was brilliant throughout mine

I just wish that's who I'd gone with. It's so important to get the right advice.

Thanks for the vote of confidence Gleith and also for the recommendation Nearlyover.

Getting the right advice is key but It can be difficult for people to really research the company or advisor that the first speak with that offer support, help and a plan to deal with their debts. If someone offers you a lifeline to your debts and tell you that you can be debt free in 48 months you don't tend to question this and move forward to set this up.

For the majority of people Trust Deeds do run smoothly but for the people that experience problems with theirs it's only when there is a problem that they find that there could have been alternative advisors or companies to deal with.

I would always encourage anyone to speak with a number of advisors/companies to really gauge the level or service, how things will work with that company and how comfortable you feel with the advice being given. Ask if the person you are speaking with is qualified to give advice, has sat any exams, how much experience they have, if they will be your main point of contact and if that particular company will actually handle the plan themselves or pass this to someone else.

If you do that then really there shouldn't be any surprises and things should run pretty smoothly.